Abstract:

The macroeconomic perspective on China is that the country will maintain growth momentum by transitioning from an investment - led economy into a consumption - driven and service - driven economy by 2030. This aspect has also affected the luxury goods market, which is growing every year. This trend will be continued until 2025. Various studies in this area are available on the market, but the author of the text, not only based on his many year's experience of cooperation with Chinese consumers and representatives of companies operating in the People's Republic of China, will address the most important key issues that initiated rapid the development of the luxury goods market in China as well as will influence its further growth until 2025. The author of the text will answer questions, including how China's internal policy enables the development of the luxury goods market, how and why a new generation of Chinese consumers are powering the global luxury market, and the double-edged sword they present to the world's leading luxury brands. How will global companies influence sales growth and development of this market in China, taking into account the growing consumer expectations regarding the product, price and brand recognition itself. The author shows that Chinese consumers are set to contribute more than two-thirds of global growth in luxury spending and how Z generations, will power the Chinese luxury market by 2025.